Sensitivity analysis: fractional logit estimations for aggregate groups of countries
| All countries | MENA | CEE (all) | |||||||
|---|---|---|---|---|---|---|---|---|---|
| VARIABLES | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| Iprod | -0.082 p<0.01 | -0.083 p<0.01 | 0.011 | -0.018 | -0.031 p<0.05 | -0.017 | -0.061 p<0.01 | -0.041 p<0.05 | 0.131 p<0.01 |
| (0.009) | (0.010) | (0.018) | (0.012) | (0.013) | (0.026) | (0.014) | (0.017) | (0.039) | |
| age | 0.008 p<0.01 | 0.007 p<0.01 | -0.006 p<0.01 | -0.003 | -0.001 | -0.006 p<0.01 | 0.006 p<0.1 | 0.005 | -0.006 |
| (0.002) | (0.002) | (0.002) | (0.002) | (0.002) | (0.002) | (0.003) | (0.004) | (0.005) | |
| R_D | 0.653 p<0.01 | 0.680 p<0.01 | 0.479 p<0.01 | 0.692 p<0.01 | 0.671 p<0.01 | 0.588 p<0.01 | 0.743 p<0.01 | 0.712 p<0.01 | 0.441 p<0.01 |
| (0.074) | (0.081) | (0.059) | (0.097) | (0.102) | (0.089) | (0.115) | (0.132) | (0.161) | |
| luni | -0.073 p<0.01 | -0.070 p<0.01 | 0.003 | -0.023 p<0.05 | -0.037 p<0.01 | 0.029 p<0.1 | -0.120 p<0.01 | -0.088 p<0.01 | 0.008 |
| (0.009) | (0.010) | (0.010) | (0.011) | (0.012) | (0.016) | (0.015) | (0.017) | (0.023) | |
| Isize | 0.270 p<0.01 | 0.220 p<0.01 | 0.361 p<0.01 | 0.152 p<0.01 | 0.228 p<0.01 | 0.354 p<0.01 | 0.361 p<0.01 | 0.255 p<0.01 | 0.359 p<0.01 |
| (0.020) | (0.022) | (0.018) | (0.024) | (0.026) | (0.026) | (0.032) | (0.037) | (0.045) | |
| fo | 0.922 p<0.01 | 0.905 p<0.01 | 0.817 p<0.01 | 0.589 p<0.01 | 0.561 p<0.01 | 0.841 p<0.01 | 1.201 p<0.01 | 1.170 p<0.01 | 0.980 p<0.01 |
| (0.089) | (0.098) | (0.067) | (0.116) | (0.122) | (0.101) | (0.139) | (0.159) | (0.195) | |
| folicences | 0.401 p<0.01 | 0.495 p<0.01 | 0.295 p<0.01 | 0.458 p<0.01 | 0.625 p<0.01 | 0.255 p<0.01 | 0.484 p<0.01 | 0.567 p<0.01 | 0.610 p<0.01 |
| (0.071) | (0.079) | (0.060) | (0.099) | (0.105) | (0.096) | (0.108) | (0.123) | (0.151) | |
| share_gov | -0.013 p<0.01 | -0.011 p<0.01 | -0.005 | -0.012 p<0.1 | -0.011 | -0.004 | -0.009 p<0.05 | -0.008 p<0.1 | -0.004 |
| (0.003) | (0.003) | (0.003) | (0.006) | (0.007) | (0.006) | (0.004) | (0.005) | (0.006) | |
| corruption | 0.047 p<0.01 | 0.020 | -0.023 | -0.022 | -0.045 p<0.05 | -0.038 | -0.036 | -0.029 | 0.068 p<0.1 |
| (0.015) | (0.017) | (0.017) | (0.020) | (0.021) | (0.024) | (0.025) | (0.029) | (0.037) | |
| Constant | -2.053 p<0.01 | -1.285 p<0.01 | 18.510 p<0.01 | -1.612 p<0.01 | -1.385 p<0.01 | 18.070 p<0.01 | -2.899 p<0.01 | -2.530 p<0.01 | -4.364 p<0.01 |
| (0.134) | (0.158) | (0.575) | (0.171) | (0.194) | (0.230) | (0.214) | (0.263) | (0.664) | |
| Sectoral effects | No | Yes | Yes | No | Yes | Yes | No | Yes | Yes |
| Country effect | No | No | Yes | No | No | Yes | No | No | Yes |
| Observations | 16,192 | 16,192 | 16,192 | 5,482 | 5,482 | 5,482 | 10,274 | 10,274 | 10,274 |
Results of probit estimations for individual MENA countries
| Egypt | Turkey | Israel | Tunisia | Morocco | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| VARIABLES | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Iprod | 0.144*** | 0.158*** | 0.021 | 0.0212 | 0.140 | 0.139 | -0.089* | -0.009 | -0.090 | -0.059 |
| (0.026) | (0.027) | (0.025) | (0.0254) | (0.088) | (0.091) | (0.049) | (0.055) | (0.055) | (0.058) | |
| age | 0.003 | 0.006** | 0.013*** | 0.0104** | 0.013*** | 0.014*** | -0.009** | -0.008** | -0.003 | -0.000 |
| (0.002) | (0.002) | (0.004) | (0.00454) | (0.004) | (0.005) | (0.004) | (0.004) | (0.005) | (0.005) | |
| R_D | 0.512*** | 0.539*** | 0.037 | 0.0205 | 1.793*** | 1.807*** | 0.699*** | 0.653*** | 0.023 | 0.135 |
| (0.131) | (0.138) | (0.144) | (0.145) | (0.241) | (0.251) | (0.161) | (0.163) | (0.221) | (0.233) | |
| luni | 0.020 | 0.042** | 0.025 | 0.0265 | 0.051* | 0.051* | -0.008 | -0.003 | -0.021 | 0.001 |
| (0.018) | (0.020) | (0.020) | (0.0202) | (0.027) | (0.028) | (0.031) | (0.032) | (0.036) | (0.039) | |
| Isize | 0.389*** | 0.392*** | 0.369*** | 0.342*** | 0.161** | 0.165** | 0.311*** | 0.261*** | 0.344*** | 0.315*** |
| (0.027) | (0.028) | (0.047) | (0.0499) | (0.063) | (0.066) | (0.048) | (0.050) | (0.067) | (0.071) | |
| fo | 0.254** | 0.212* | Omitted | 0.891** | 0.920** | 0.752*** | 0.746*** | 0.300 | 0.300 | |
| (0.120) | (0.123) | (0.390) | (0.400) | (0.181) | (0.185) | (0.230) | (0.237) | |||
| folicences | 0.680*** | 0.713*** | 0.077 | 0.0163 | -0.325 | -0.376 | 0.145 | 0.215 | 0.117 | 0.209 |
| (0.126) | (0.130) | (0.116) | (0.118) | (0.322) | (0.327) | (0.245) | (0.252) | (0.217) | (0.231) | |
| share_gov | -0.009* | -0.009* | Omitted | Omitted | Omitted | -0.003 | -0.002 | 0.043 | 0.053 | |
| (0.005) | (0.005) | (0.009) | (0.009) | (0.070) | (0.069) | |||||
| corruption | 0.043* | 0.043* | 0.078* | 0.0490 | 0.050 | 0.063 | -0.010 | 0.001 | -0.015 | 0.028 |
| (0.025) | (0.026) | (0.041) | (0.0428) | (0.113) | (0.119) | (0.042) | (0.042) | (0.052) | (0.057) | |
| Constant | -4.335*** | -4.697*** | -1.708*** | -2.095*** | -3.704*** | -3.698*** | -0.068 | -0.902 | -0.636 | -1.501* |
| (0.333) | (0.353) | (0.351) | (0.453) | (1.222) | (1.285) | (0.576) | (0.638) | (0.755) | (0.808) | |
| Sectoral effects | No | Yes | No | Yes | No | Yes | No | Yes | No | Yes |
| Observations | 2,177 | 2,177 | 719 | 719 | 410 | 410 | 576 | 576 | 319 | 319 |
| Log likelihood | -805.1 | -770.3 | -425.6 | -413.0 | -172.2 | -164.7 | -330.4 | -318.1 | -167.5 | -151.7 |
| Pseudo R2 | 0.232 | 0.266 | 0.142 | 0.167 | 0.300 | 0.331 | 0.172 | 0.203 | 0.113 | 0.197 |
Results of probit estimations for the entire sample of countries, MENA countries and all CEE countries
| All countries | MENA-8 | All CEE | |||||||
|---|---|---|---|---|---|---|---|---|---|
| VARIABLES | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) |
| Iprod | -0.012 p<0.01 | 0.0414 p<0.01 | 0.070 p<0.01 | 0.049 p<0.01 | 0.044 p<0.01 | 0.053 | -0.025 p<0.01 | 0.039 p<0.01 | 0.091 p<0.01 |
| (0.004) | (0.009) | (0.020) | (0.007) | (0.013) | (0.037) | (0.006) | (0.012) | (0.021) | |
| age | 0.007 p<0.01 | 0.002 p<0.05 | 0.002 | 0.002 | 0.002 | 0.003 | 0.008 p<0.01 | 0.001 | 0.000 |
| (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | |
| R_D | 0.599 p<0.01 | 0.492 p<0.01 | 0.439 p<0.01 | 0.631 p<0.01 | 0.502 p<0.01 | 0.509 p<0.01 | 0.620 p<0.01 | 0.508 p<0.01 | 0.415 p<0.01 |
| (0.033) | (0.035) | (0.057) | (0.058) | (0.060) | (0.147) | (0.042) | (0.045) | (0.049) | |
| luni | -0.027 p<0.01 | 0.021 p<0.01 | 0.031 p<0.01 | -0.006 | 0.024 p<0.01 | 0.032 p<0.01 | -0.044 p<0.01 | 0.017 p<0.05 | 0.030 p<0.01 |
| (0.005) | (0.005) | (0.006) | (0.007) | (0.008) | (0.009) | (0.006) | (0.007) | (0.009) | |
| Isize | 0.253 p<0.01 | 0.286 p<0.01 | 0.265 p<0.01 | 0.308 p<0.01 | 0.333 p<0.01 | 0.306 p<0.01 | 0.203 p<0.01 | 0.255 p<0.01 | 0.242 p<0.01 |
| (0.009) | (0.010) | (0.025) | (0.015) | (0.016) | (0.040) | (0.013) | (0.014) | (0.025) | |
| fo | 0.596 p<0.01 | 0.495 p<0.01 | 0.469 p<0.01 | 0.452 p<0.01 | 0.487 p<0.01 | 0.476 p<0.01 | 0.707 p<0.01 | 0.509 p<0.01 | 0.466 p<0.01 |
| (0.040) | (0.043) | (0.065) | (0.070) | (0.074) | (0.150) | (0.051) | (0.054) | (0.057) | |
| folicences | 0.330 p<0.01 | 0.267 p<0.01 | 0.250 p<0.01 | 0.431 p<0.01 | 0.245 p<0.01 | 0.244 | 0.316 p<0.01 | 0.285 p<0.01 | 0.258 p<0.01 |
| (0.033) | (0.035) | (0.062) | (0.060) | (0.063) | (0.161) | (0.041) | (0.043) | (0.057) | |
| share_gov | -0.007 p<0.01 | -0.005 p<0.05 | -0.004 p<0.05 | -0.006 | -0.005 | -0.004 | -0.005 p<0.05 | -0.004 p<0.1 | -0.003 |
| (0.002) | (0.002) | (0.002) | (0.004) | (0.004) | (0.003) | (0.002) | (0.002) | (0.002) | |
| corruption | -0.008 | 0.012 | 0.018 p<0.1 | -0.043 p<0.01 | 0.019 | 0.016 | -0.005 | 0.010 | 0.021 |
| (0.008) | (0.009) | (0.011) | (0.012) | (0.014) | (0.010) | (0.011) | (0.012) | (0.016) | |
| Constant | -1.582 p<0.01 | -2.270 p<0.01 | -2.474 p<0.01 | -2.217 p<0.01 | -2.451 p<0.01 | -2.419 p<0.01 | -1.333 p<0.01 | -2.483 p<0.01 | -2.593 p<0.01 |
| (0.066) | (0.133) | (0.279) | (0.108) | (0.185) | (0.561) | (0.088) | (0.203) | (0.238) | |
| Country effects | No | Yes | Yes | No | Yes | Yes | No | Yes | Yes |
| Sectoral effects | No | No | Yes | No | No | Yes | No | No | Yes |
| Observations | 16,113 | 16,113 | 16,113 | 5,453 | 5,453 | 5,453 | 10,237 | 10,237 | 10,237 |
| Log likelihood | -7846 | -7078 | -6730 | -2925 | -2682 | -2617 | -4605 | -4223 | -3924 |
| Pseudo R2 | 0.126 | 0.211 | 0.250 | 0.151 | 0.221 | 0.240 | 0.115 | 0.189 | 0.246 |
Results of probit estimations for CEE members of the EU, CEE non-members of the EU and for six MENA countries (Turkey and Israel excluded)
| CEE EU members | CEE non-EU members | Six MENA countries | |||||||
|---|---|---|---|---|---|---|---|---|---|
| VARIABLES | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) |
| lprod | 0.009 | 0.027 | 0.088 p<0.01, | -0.004 | 0.045 p<0.01, | 0.089 p<0.01, | 0.074 p<0.01, | 0.055 p<0.01, | 0.074 p<0.01, |
| (0.013) | (0.021) | (0.027) | (0.007) | (0.015) | (0.028) | (0.008) | (0.017) | (0.044) | |
| age | -0.002 | -0.003 | -0.004 | 0.009 p<0.01, | 0.003 p<0.01, | 0.002 p<0.01, | 0.001 | 0.000 | 0.001 |
| (0.002) | (0.003) | (0.004) | (0.001) | (0.002) | (0.001) | (0.001) | (0.001) | (0.002) | |
| R_D | 0.607 p<0.01, | 0.561 p<0.01, | 0.444 p<0.01, | 0.588 p<0.01, | 0.484 p<0.01, | 0.406 p<0.01, | 0.601 p<0.01, | 0.456 p<0.01, | 0.450 p<0.01, |
| (0.078) | (0.080) | (0.113) | (0.051) | (0.054) | (0.060) | (0.068) | (0.071) | (0.070) | |
| luni | 0.011 | 0.020 p<0.01, | 0.034 p<0.01, | -0.052 | 0.017 p<0.01, | 0.030 p<0.05, | 0.002 | 0.012 | 0.026 p<0.05, |
| (0.010) | (0.010) | (0.010) | (0.008) | (0.010) | (0.014) | (0.009) | (0.010) | (0.013) | |
| lsize | 0.237 p<0.01, | 0.248 | 0.234 p<0.01, | 0.204 p<0.01, | 0.258 p<0.01, | 0.247 p<0.01, | 0.304 p<0.01, | 0.342 p<0.01, | 0.321 p<0.01, |
| (0.024) | (0.025) | (0.027) | (0.015) | (0.016) | (0.034) | (0.017) | (0.018) | (0.043) | |
| fo | 0.579 p<0.01, | 0.550 p<0.01, | 0.512 p<0.01, | 0.640 p<0.01, | 0.482 p<0.01, | 0.445 p<0.01, | 0.435 p<0.01, | 0.378 p<0.01, | 0.347 p<0.01, |
| (0.087) | (0.088) | (0.074) | (0.064) | (0.068) | (0.079) | (0.076) | (0.079) | (0.128) | |
| folicences | 0.173 p<0.05, | 0.180 p<0.05, | 0.116 | 0.359 p<0.01, | 0.325 p<0.01, | 0.303 p<0.01, | 0.363 p<0.01, | 0.380 p<0.01, | 0.411 p<0.01, |
| (0.076) | (0.078) | (0.081) | (0.049) | (0.052) | (0.073) | (0.078) | (0.079) | (0.159) | |
| share_gov | -0.016 p<0.05, | -0.014 p<0.05, | -0.016 p<0.05, | -0.003 | -0.002 | -0.002 | -0.007 | -0.007 | -0.006 p<0.01, |
| (0.007) | (0.007) | (0.007) | (0.002) | (0.002) | (0.002) | (0.004) | (0.004) | (0.002) | |
| corruption | -0.054 p<0.01, | -0.022 | -0.012 | 0.020 | 0.022 | 0.032 p<0.01, | -0.028 p<0.01, | 0.010 | 0.013 |
| (0.020) | (0.022) | (0.016) | (0.013) | (0.014) | (0.019) | (0.015) | (0.016) | (0.013) | |
| Constant | -1.354 p<0.01, | -1.851 p<0.01, | -2.160 p<0.01, | -1.753 p<0.01, | -2.610 p<0.01, | -2.648 p<0.01, | -2.625 p<0.01, | -2.533 p<0.01, | -2.695 p<0.01, |
| (0.169) | (0.277) | (0.307) | (0.110) | (0.241) | (0.325) | (0.124) | (0.222) | (0.727) | |
| Country effects | No | Yes | Yes | No | Yes | Yes | No | Yes | Yes |
| Sectoral effects | No | No | Yes | No | No | Yes | No | No | Yes |
| Observations | 2,472 | 2,472 | 2,472 | 7,765 | 7,765 | 7,765 | 4,277 | 4,277 | 4,277 |
| Log likelihood | -1404 | -1371 | -1161 | -3083 | -2845 | -2721 | -2171 | -2033 | -1974 |
| Pseudo R2 | 0.107 | 0.128 | 0.261 | 0.116 | 0.184 | 0.220 | 0.153 | 0.206 | 0.230 |
Number of observations (firms) in the BEEPS V database
| Country | No. of observations |
|---|---|
| Albania | 360 |
| Armenia | 360 |
| Azerbaijan | 390 |
| Belarus | 360 |
| Bosnia-Herzegovina | 360 |
| Bulgaria | 293 |
| Croatia | 360 |
| Czech Republic | 254 |
| Djibouti | 266 |
| Egypt | 2,897 |
| Estonia | 273 |
| FYR Macedonia | 360 |
| Georgia | 360 |
| Hungary | 310 |
| Israel | 483 |
| Jordan | 573 |
| Kazakhstan | 600 |
| Kosovo | 202 |
| Kyrgyzstan | 270 |
| Latvia | 336 |
| Lebanon | 561 |
| Lithuania | 270 |
| Moldova | 360 |
| Mongolia | 360 |
| Montenegro | 150 |
| Morocco | 407 |
| Poland | 542 |
| Romania | 540 |
| Russia | 4,220 |
| Serbia | 360 |
| Slovak Republic | 268 |
| Slovenia | 270 |
| Tajikistan | 359 |
| Tunisia | 592 |
| Turkey | 1,344 |
| Ukraine | 1,002 |
| Uzbekistan | 390 |
| West Bank and Gaza | 434 |
| Yemen | 353 |
| Total | 22,449 |
Correlation table for variables used in the empirical study for the whole sample of 22,449 observations
| age | R_D | luni | lsize | fo | folice~s | share_~v corrup~n | |
|---|---|---|---|---|---|---|---|
| age | 1.000 | ||||||
| R_D | 0.066 | 1.000 | |||||
| Iuni | -0.062 | 0.062 | 1.000 | ||||
| Isize | 0.258 | 0.185 | 0.156 | 1.000 | |||
| fo | 0.006 | 0.082 | 0.047 | 0.180 | 1.000 | ||
| folicences | 0.021 | 0.150 | 0.046 | 0.164 | 0.128 | 1.000 | |
| share_gov | 0.089 | 0.007 | 0.019 | 0.114 | 0.018 | 0.006 | 1.000 |
| corruption | 0.069 | 0.054 | 0.033 | 0.019 | -0.001 | -0.006 | -0.048 1.000 |
Description of variables used in the empirical study
| Variable | Description |
|---|---|
| export (export status) | Dependent binary variable, which takes the value of 1 if the establishment is exporting (directly or indirectly) at least 1% of its sales, and 0 otherwise |
| Iprod (level of productivity) | Logarithm of productivity expressed as the total amount of annual sales per full-time employee |
| age (age of firm) | Number of years since the start of operation |
| R_D (R&D status) | Binary variable, which takes value of 1 if the establishment was spending money on R&D in the last three years, and 0 otherwise |
| luni (% of university graduates) Isize | Logarithm for the percentage of employees at the end of the fiscal year with a university degree |
| lsize (number of employees) | Logarithm for the number of permanent, full-time employees in this firm at the end of the last fiscal year |
| fo (foreign ownership status) | Binary variable, which takes the value of 1 if its shares are owned by private foreign individuals, companies or organizations, and 0 otherwise |
| foIicences (foreign ownership status) | Binary variable, which takes the value of 1 if the establishment uses technology licensed from a foreign-owned company, and 0 otherwise |
| multi The role of product mix for exporters is analysed by Mayer, Melitz and Ottaviano (2014). This variable is only used in the robustness test in the Appendix. | 100 minus the share of the main product in total sales. This variable measures whether the firm is producing many (multiple) products (0 means that the main product represents 100% of supply) |
| share_gov (percent of state ownership) | The percentage of a firm owned by the state/government |
| corruption (perception of corruption) | Corruption: its perception as an obstacle to current operations of the establishment (0 stands for no obstacles and 4 for a very serious obstacle) |
Summary statistics for variables used in the empirical study for the whole sample of 22,449 observations
| Variable | Observations | Mean | Std. dev. | Min. | Max. |
|---|---|---|---|---|---|
| age | 22,220 | 16.261 | 13.591 | 0 | 190 |
| R_D | 22,260 | 0.109 | 0.312 | 0 | 1 |
| uni | 21,271 | 32.908 | 30.903 | 0 | 100 |
| size | 22,274 | 76.287 | 338.188 | 1 | 21,000 |
| fo | 22,449 | 0.085 | 0.279 | 0 | 1 |
| folicences | 22,220 | 0.131 | 0.337 | 0 | 1 |
| share_gov | 22,181 | 0.766 | 7.115 | 0 | 99 |
| corruption | 21,588 | 1.456 | 1.508 | 0 | 4 |
Sensitivity analysis: probit estimations with additional “multi” variable for aggregate groups of countries
| All | MENA | CEE (all) | |||||||
|---|---|---|---|---|---|---|---|---|---|
| VARIABLES | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| Iprod | -0.013 p<0.01 | 0.043 p<0.01 | 0.073 p<0.01 | 0.046 p<0.01 | 0.044 p<0.01 | 0.054 | -0.025 p<0.01 | 0.041 p<0.01 | 0.095 p<0.01 |
| (0.004) | (0.009) | (0.019) | (0.008) | (0.014) | (0.037) | (0.006) | (0.012) | (0.020) | |
| age | 0.007 p<0.01 | 0.002 p<0.1 | 0.001 | 0.002 | 0.002 | 0.002 | 0.008 p<0.01 | 0.001 | 0.000 |
| (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.002) | (0.001) | (0.001) | (0.001) | |
| R_D | 0.597 p<0.01 | 0.493 p<0.01 | 0.437 p<0.01 | 0.617 p<0.01 | 0.485 p<0.01 | 0.488 p<0.01 | 0.604 p<0.01 | 0.506 p<0.01 | 0.410 p<0.01 |
| (0.034) | (0.036) | (0.057) | (0.059) | (0.061) | (0.150) | (0.043) | (0.045) | (0.050) | |
| luni | -0.028 p<0.01 | 0.021 p<0.01 | 0.031 p<0.01 | -0.006 | 0.023 p<0.01 | 0.031 p<0.01 | -0.044 p<0.01 | 0.018 p<0.05 | 0.031 p<0.01 |
| (0.005) | (0.005) | (0.006) | (0.007) | (0.008) | (0.009) | (0.006) | (0.007) | (0.009) | |
| Isize | 0.258 p<0.01 | 0.291 p<0.01 | 0.270 p<0.01 | 0.314 p<0.01 | 0.340 p<0.01 | 0.312 p<0.01 | 0.206 p<0.01 | 0.260 p<0.01 | 0.248 p<0.01 |
| (0.009) | (0.010) | (0.025) | (0.015) | (0.016) | (0.037) | (0.013) | (0.013) | (0.025) | |
| fo | 0.586 p<0.01 | 0.481 p<0.01 | 0.455 p<0.01 | 0.459 p<0.01 | 0.487 p<0.01 | 0.478 p<0.01 | 0.692 p<0.01 | 0.485 p<0.01 | 0.441 p<0.01 |
| (0.041) | (0.043) | (0.064) | (0.071) | (0.075) | (0.161) | (0.051) | (0.054) | (0.048) | |
| folicences | 0.321 p<0.01 | 0.254 p<0.01 | 0.237 p<0.01 | 0.419 p<0.01 | 0.236 p<0.01 | 0.234 | 0.297 p<0.01 | 0.260 p<0.01 | 0.233 p<0.01 |
| (0.033) | (0.035) | (0.059) | (0.060) | (0.064) | (0.157) | (0.042) | (0.044) | (0.049) | |
| multi | 0.001 p<0.01 | 0.001 | 0.001 | 0.003 p<0.01 | 0.004 p<0.01 | 0.004 p<0.01 | 0.002 p<0.01 | -0.001 | -0.001 |
| (0.0005) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | (0.001) | |
| share_gov | -0.008 p<0.01 | -0.005 p<0.01 | -0.004 p<0.01 | -0.006 p<0.1 | -0.005 | -0.004 | -0.005 p<0.01 | -0.004 p<0.05 | -0.003 p<0.1 |
| (0.002) | (0.002) | (0.001) | (0.004) | (0.004) | (0.003) | (0.002) | (0.002) | (0.002) | |
| corruption | -0.009 | 0.013 | 0.018 p<0.1 | -0.047 p<0.01 | 0.016 | 0.012 | -0.002 | 0.015 | 0.026 p<0.05 |
| (0.008) | (0.009) | (0.009) | (0.012) | (0.015) | (0.013) | (0.011) | (0.012) | (0.013) | |
| Constant | -1.592 p<0.01 | -2.317 p<0.01 | -2.543 p<0.01 | -2.218 p<0.01 | -2.536 p<0.01 | -2.526 p<0.01 | -1.360 p<0.01 | -2.524 p<0.01 | -2.612 p<0.01 |
| (0.067) | (0.137) | (0.272) | (0.109) | (0.190) | (0.561) | (0.089) | (0.208) | (0.227) | |
| Country effects | No | Yes | Yes | No | Yes | Yes | No | Yes | Yes |
| Sectoral effects | No | No | Yes | No | No | Yes | No | No | Yes |
| Observations | 15,741 | 15,741 | 15,741 | 5,373 | 5,373 | 5,373 | 10,001 | 10,001 | 10,001 |
| Log likelihood | -7682 | -6928 | -6580 | -2876 | -2633 | -2565 | -4523 | -4146 | -3851 |
| Pseudo R2 | 0.126 | 0.212 | 0.252 | 0.153 | 0.224 | 0.244 | 0.115 | 0.188 | 0.246 |